You may have this business start-up idea. Perhaps you only need a few thousand dollars to start and get the equipment that you need. However, you're jobless or living from paycheck to paycheck. You've started selling some of your products as a side business, but you need some funding in order to pursue this full-time. So why not go to a bank?
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I had an interesting conversation with someone today about business planning. Months ago when I realized just how skeptical this person was about business planning, I asked them to volunteer and be my "guinea pig" and I would help them develop a mini-plan for their new program. My suggestion was, "be open to this, watch and see what happens."
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One of the well-known cons to owning a service business is that your business depends on your work in order to receive money. It can be a burden sometimes, the business and your clients are depending on your expertise. So most times, service business owners find themselves doing labor, with a promise to be paid. You don't work, you don't get paid.
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Today I talked to law students and future Lawyerpreneurs about start-up business planning. One of the students mentioned his puzzlement--"how do I make up numbers about business? He inquired. Another question, "how do bankers or funders analyze my plan, since it's a guessing game?" My answer, "you don't make up anything." That's the key.
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Monis Rahman, serial entrepreneur, accidentally launched Rozee.pk when he needed to find more programmers for his startup. Having started a few other ventures in the past (one of them Edaycare.com that attracted $2.5 This is when he decided to build a job search website and name it Rozee. He now found himself running two businesses.
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